Frank Commisso, Jr. Releases Tax Returns
Commisso is first Mayoral Candidate in Albany’s history to voluntarily release returns
The Commisso for Mayor Campaign is pleased to announce that, in a display of transparency unprecedented in Albany’s history, Frank Commisso, Jr. has voluntarily released his federal and state tax returns for 2016, along with the relevant attachments. Mr. Commisso is the first Albany Mayoral candidate in history to release his returns.
Although he is not required by law to release his tax returns, Mr. Commisso strongly believes that financial disclosure is necessary for voters to properly evaluate candidates. “All legally-required disclosures were born out of voluntary disclosures,” said Commisso. “Current disclosure requirements for city officials are woefully inadequate. Simply stated, the public should have access to this information so they can factor it into their decision-making.”
Notably, Mr. Commisso supports recently-introduced legislation that would require the state’s Tax and Finance Department to release five years of state returns from the president and vice president as well as New York’s governor, attorney general, comptroller and U.S. senators. The legislation is sponsored by Assemblywoman Patricia Fahy of Albany as well as Assemblyman David Buchwald of Westchester County, Senator Brad Hoylman of Manhattan, and Senator Daniel Squadron of Brooklyn.
Mr. Commisso’s returns show that he understands the challenges faced by Albany’s working families. “As my returns demonstrate, our personal expenses include sizable mortgage, daycare, property tax and student loan expenses,” said Commisso.
The returns and associated attachments show that together, Frank and Brittany Commisso earned a federal adjusted gross income of $132,907 in 2016, and paid $15,499 in federal income tax as well as $7,487 in New York State income tax. Brittany and Frank claimed $22,542 in itemized deductions, which included $8,521 for home mortgage interest, $2,084 for interest paid on student loans, $8,895 for state income tax paid, $6,126 in real estate taxes, and $1,000 in charitable contributions. The returns also show that the Commissos incurred $7,200 in daycare expenses in 2016. The couple filed jointly in 2016.
Mr. Commisso earned $77,202 in his position as Director in Albany County’s Audit and Control Office in 2016 as well as $20,768 in his position as City of Albany Councilman.